Retirement village and property law specialist Chad Wallace has joined Cooney Lees Morgan’s partnership this April, providing the highest level of qualified legal expertise to the sector.
It has been a meteoric rise for Wallace who was named a ‘Rising Star’ by NZ Lawyer last year. He joined CLM in 2015 from a top-tier Auckland firm and has developed a
niche legal specialty acting for retirement village operators, in addition to a broader commercial and residential property development practice.
“Our firm sits in a unique position. We act for retirement village operators and offer a full spectrum of services from initial land acquisition through to construction
contracts, financing, syndication, registration and statutory supervisor appointments and the preparation of occupation right agreements and disclosure statements. But we also have a lot of our private clients sell their family homes and purchase an occupation right agreement. So we have that dual perspective," said Wallace.
“A lot of big law firms that act for retirement villages only see things from the operator’s perspective, whereas our view is very balanced. We can foresee matters
that a resident might have concerns about, or things a resident might query, so that’s a huge advantage that flows into our advice and the documentation we produce.”
Wallace said he’s always enjoyed working with the retirement village sector because generally people are in it for the right reasons.
“They’re experienced operators, they know what they’re doing, they are focused on their residents and it’s ultimately a small industry where your reputation is very important.”
Wallace is eager to hear what the new Government will do with the on-going review into the Retirement Villages Act and associated regulations.
“In my view more consistency on some issues would be good. I’m hoping the review will make the documentation for incoming residents a lot less technical and repetitive, with a greater emphasis on plain language so that it’s easier for residents to understand what they’re signing up to. That’s got to be good for everyone.”
In the meantime, Wallace will be concentrating on his new role as Partner which has been a long-held goal since his early days as a Solicitor at Minter Ellison Rudd Watts
in Auckland.
“I think once you decide partnership is for you, then it’s a lot of work professionally and personally to get there. So I’m really pleased that I’ve been able to
achieve this goal and grateful to the current Partners at CLM for the opportunity to join them and to my clients, colleagues and family for their continued support.
“Our strategic goal is to be the leading regional law firm in New Zealand and I think we’re doing a great job in working towards that aspiration. For the past two years in a
row we’ve been a finalist for mid-size firm of the year at the NZ Law Awards so that’s quite an achievement.
“People always have really positive things to say about their dealings with Cooney Lees Morgan. We have an excellent culture, incredibly low staff turnover, and an
outstanding team of legal experts. The law itself is getting more complex, and that requires specialisation to make sure you’re servicing your clients’ needs the best way
possible. And by having true experts in their fields, I think we really deliver on that.”
Wallace says he’s looking forward to contributing to the ongoing success of CLM.
“The firm has been operating for 105 years. And over that time we’ve had Partners retire and new Partners join. But it’s always been a very stable and cohesive
partnership.
“As a Partner, you’re acting as a guardian of the firm for future generations of lawyers and clients as well. You always need to be looking ahead to make sure the firm is
evolving, is keeping up-to-date and looking for new opportunities to grow, for the benefit of current and future staff and clients. I’m excited to be part of that constant
evolution of our firm," Wallace concluded.
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